IREN Shares Plunge Amid Higher Costs from AI Pivot

Shares in IREN have dropped as the Bitcoin miner disclosed higher costs associated with its pivot to artificial intelligence (AI). The costs are tied to the company's shift away from traditional mining and towards AI development. Despite this, the BTC price remains steady within its Bollinger band, with an upper resistance at $80,522.33 and lower support at $77,680.52.

The technical indicators suggest a broader bullish structure, but the MACD death cross signals fading momentum while the RSI stays neutral. Traders are now eyeing a potential retracement to the 50-EMA before any continuation higher.